Vale-China Standoff Over Mega Ore Ships Deepens

CNBC Tuesday 31st January, 2012

] 400,000-deadweight-tonne "Valemax" vessels and other giant freighters, to protect its own ocean-freight industry. This action comes at a time when benchmark shipping rates have fallen by two-thirds since October, slashing revenue for shipowners a worldwide. "At the end of the day, they (China) want to support their own," said George Lazardis, ...

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